Here it is! Soros: Gold not Safe

[mrnhtbr2232]

http://www.reuters.com/news/video/story?videoId=158653924&videoChannel=2602

Soros calls Gold the ultimate bubble and says it's not safe - "a period of uncertainty that won't last forever" he says. Hmmmm......

[Plastic]

Damn that ghoul has some serious bags under AND over his eyes.

Oh yah, are we supposed to be scared and sell everything for "safe fiat" now?............

[Ponce]

You got it Plastic........the more that they talk against it the more that you should buy......after all, why do you think that we are now in so much trouble?

[Plastic]

You got it Plastic........the more that they talk against it the more that you should buy......after all, why do you think that we are now in so much trouble?




I'm gonna go sell all my nasty metals RIGHT NOW!! (after I dredge the local lake), and turn it in for those lovely FRN's. After all they come with a benefit, they don't tarnish like that worthless silver does. Annnnnd it will never be confiscated, in fact, I hear they will print all we could ever want too!!1!one!1!!eleven!1!!

That Soros dude creeps me right the hell out, you can see the bad karma written on his face.

[StreetsOfGold]

Soros = The ultimate BUY signal

[VX1]

Going back and forth between lizard form must stretch the skin something awful :D ...or perhaps it's insect ala Men In Black?

[Gknowmx]

to anyone who wants to relieve themselves of this terribly unsafe asset immediately I will offer a generous one-time price of spot - 500 FRN. I know, I know, my irrational compassion has gotten the better of me and I will probably regret this offer. :o

[Saul Mine]

Anybody who talks about a gold bubble qualifies to get his face laughed in. A bubble has to be pumped up, meaning you can borrow money to buy gold. You can't borrow money to buy gold. Ergo, no bubble.

You can't trust anybody's advice about precious metals. Even another metal bug might steer you wrong because he's not following the same plan you are. You have to learn enough about the business that you don't need anybody's advice.

[Twisted Titan]

Damn that ghoul has some serious bags under AND over his eyes.

Oh yah, are we supposed to be scared and sell everything for "safe fiat" now?............



............................

[Plastic]

The face of madness, evil, or both?

I'mma have nightmares tonight, thanks Twisted.

[General of Darkness]

Why Is Soros Buying Gold if It’s in a Bubble?
56 comments | by: Edward Harrison March 02, 2010 | about: GLD


A lot of media outlets have noticed that, despite George Soros’ protestations about the rise in gold prices being excessive, Soros Fund Management have invested a lot more money in gold after he made his apparently gold-bearish calls. What gives?

Apparently, Soros is a market-timing momentum investor because his comments in the Australian demonstrate that he is investing in gold exactly because he believe it is a bubble.

The Australian says:

The "market fundamentalist" belief prevailing in the US that markets correct their own excesses was wrong, Mr. Soros said, criticising former Federal Reserve chairman Alan Greenspan for taking that line.

Mr. Soros, who said he manages around $US27 billion ($30bn), gave his own investment decisions as an example.

"When I see a bubble, I buy that bubble, because that’s how I make money," the outspoken investor said.

Mr. Soros doubled his bet on gold at the end of 2009 amid rising prices, a filing showed this month, a few weeks after Mr. Soros made comments calling gold the new asset bubble.

For those of you of a bullish mindset, also see Why You Should Dig Newmont Mining in Barron’s. Personally, I see the gold play as less compelling given the run-up we had to over $1200 an ounce late last year. However, longer-term I am a lot more bullish than Mr. Soros seems to be.

Source

China better than Barack Obama in handling the global financial crisis, says George Soros – The Australian

[mrnhtbr2232]

Right you are, General. Playing both sides from the middle.

[Awoke]

Right you are, General. Playing both sides from the middle.


Typical jewish tactic.

[LuckyStrike]

You can't borrow money to buy gold.


Apparently you have never heard of GLD.

[LuckyStrike]

mamboni or book need to photoshop this

Soros on a cell phone doing an interview with CNBC about the gold bubble, then with his other hand directing the backing up dump truck to a loading dock where gold is being loaded with fork lifts.

[Spectrism]

That old wretch will soon be in his eternal position of scraping the brown crud from the steaming rock walls below the outhouses of hell.

[Shami-Amourae]

mamboni or book need to photoshop this

Soros on a cell phone doing an interview with CNBC about the gold bubble, then with his other hand directing the backing up dump truck to a loading dock where gold is being loaded with fork lifts.


This is as close as I'm giving you:

[StackerKen]

I have a question (might be a dumb question)
I figure this might be a good thread to ask it in.


Since the historical gold-silver ratio most commonly quoted is 30:1

Is Gold over priced or is it silver that is under valued?

And how many of you think it will come back near that ratio again?

[LuckyStrike]

I have a question (might be a dumb question)
I figure this might be a good thread to ask it in.


Since the historical gold-silver ratio most commonly quoted is 30:1

Is Gold over priced or is it silver that is under valued?

And how many of you think it will come back near that ratio again?




I usually hear 16 or 15:1.

I've heard a lot of people whom I respect say that silver is just that undervalued. I tend to lean towards that I mean it's not even at record high's let alone inflation adjusted record highs. People can say what they want about the Hunt brothers but like Jim Rogers has said back then you didn't have SLV buying up the silver either, so I think silver could easily double in the next 5 years maybe triple.

I would be very surprised if it ever went below 10 FRN's again. As with gold I'd be very surprised to see it dip below 1k which was the ceiling for so long has now become firmly the floor as far as I can tell.

[Neuro]

Paper gold right now has as much backing as Fiat currencies, probably even less, as the Fiat currencies at least to a decreasing amount is backed by the production of the issuing countries central bank. 99.9% of gold paper is backed by air. And if Soros is talking about gold paper he is right, it is more inflated than the Dutch Tulip bulbs, during the height of the 17th century Tulip mania, at least you got a Tulip bulb, when you invested your house in the market...

[Neuro]

." People can say what they want about the Hunt brothers but like Jim Rogers has said back then you didn't have SLV buying up the silver either, so I think silver could easily double in the next 5 years maybe triple."

If you look into it you will find that it is physically impossible that SLV have bought 400 million ounces of silver since 2005. What have happened is that SLV have bought long positions on COMEX, and meanwhile shorters (unless they have gone in completely naked) have pledged SLV shares as collateral, for their short positions at COMEX. It is a gigantic circle jerk, which works until someone wants actual silver, which doesn't exist in any warehouses...

[Saul Mine]

I have a question (might be a dumb question)
I figure this might be a good thread to ask it in.


Since the historical gold-silver ratio most commonly quoted is 30:1

Is Gold over priced or is it silver that is under valued?

And how many of you think it will come back near that ratio again?


Don't apologize for dumb questions. They are better than dumb mistakes.

The ratio most often quoted is 16:1. That was the ratio 450 YEARS AGO! Then the ratio was 20:1 until 1890, and it has averaged 66:1 for the last 120 years! Anybody who talks about 16:1 is wishing and dreaming.

It costs $6 to $8 an ounce to dig silver out of the ground, $400 to $500 for gold. And that is why the spot price ratio swings from 50 to 80. Nobody cares how much is still in the ground or what the ratio used to be, it's only a matter of what it costs to dig it up.

[LuckyStrike]

It costs $6 to $8 an ounce to dig silver out of the ground, $400 to $500 for gold. And that is why the spot price ratio swings from 50 to 80. Nobody cares how much is still in the ground or what the ratio used to be, it's only a matter of what it costs to dig it up.


I have been told that the majority of silver today comes from the byproduct of copper mining since silver unlike gold tends to pool towards the surface of the earth and all the easy stuff has been mined. Was your 6-8 dollar figure for mining silver talking about the stuff that they actually mine or the byproduct of copper?

[StackerKen]

I have a question (might be a dumb question)
I figure this might be a good thread to ask it in.


Since the historical gold-silver ratio most commonly quoted is 30:1

Is Gold over priced or is it silver that is under valued?

And how many of you think it will come back near that ratio again?


Don't apologize for dumb questions. They are better than dumb mistakes.

The ratio most often quoted is 16:1. That was the ratio 450 YEARS AGO! Then the ratio was 20:1 until 1890, and it has averaged 66:1 for the last 120 years! Anybody who talks about 16:1 is wishing and dreaming.

It costs $6 to $8 an ounce to dig silver out of the ground, $400 to $500 for gold. And that is why the spot price ratio swings from 50 to 80. Nobody cares how much is still in the ground or what the ratio used to be, it's only a matter of what it costs to dig it up.


Thanks Saul

The cost of getting it out of the ground does seem to be a factor....
So with the figures you posted and my calculations the ratio belongs at about 64

Of course that is not taking into consideration the industrial demand for silver.

[uranian]

he'll be joining gartner next in the "good at being precisely wrong on the timing" for gold, making him a useful indicator.

[Awoke]

You can't borrow money to buy gold.


Apparently you have never heard of GLD.


Or credit. I used a Credit card for my last purchase.

[silver solution]

I have read there is not much silver in the ground on earth.

[StackerKen]

I have read there is not much silver in the ground on earth.


I have read that too (here)

I don't think I'm buying that....Didn't some say that about oil too?

[Twisted Titan]

I have read there is not much silver in the ground on earth.


There are Billion of ounces of silver......more then you can possibly imagine.

They only factor is at what price are you willing to dig it out at and I when I say price I mean TOTAL price

As the cost of precious metals can be measured by several factors:

BLOOD
SWEAT
TOIL AND LIVES.



T

[Ponce]

Since the historical gold-silver ratio most commonly quoted is 30:1


The standard is 16/1 and the only time that I saw it was in 1980...better value to buy silver for two reasons 1=it has a long way to go up an 2=there is less and less every day.......plus, they are finding new usees for it.

[Saul Mine]

It costs $6 to $8 an ounce to dig silver out of the ground, $400 to $500 for gold. And that is why the spot price ratio swings from 50 to 80. Nobody cares how much is still in the ground or what the ratio used to be, it's only a matter of what it costs to dig it up.


I have been told that the majority of silver today comes from the byproduct of copper mining since silver unlike gold tends to pool towards the surface of the earth and all the easy stuff has been mined. Was your 6-8 dollar figure for mining silver talking about the stuff that they actually mine or the byproduct of copper?


There is no straight answer to that question. Miners and their associations report fudge factors which the world just has to accept. Everybody lies, and actions depend more on politics than anything else.

[Neuro]

You can't borrow money to buy gold.


Apparently you have never heard of GLD.
Exactly. Paper gold you can borrow money to buy more. Just like Silverbach outlined his strategy to buy paper Palladium. Certainly, yet we haven't seen the excesses yet of the papergold bubble. Probably the price of papergold will double or even tripple before it burns down and collapses in a pile of ashes.I think it is possible to happen within the next 12-24 months. Physical gold will be left standing at those levels, probably even increase in price, following the collapse of papergold.

I believe Soros is right in the context of papergold and if he was honest he would say that he means papergold. It will be the ultimate bubble, because after this every paper promise will be abandoned...

[SWRichmond]

Soros made his fortune betting against the insiders, then became an insider himself. Now that he has a vested interest in maintaining his own power base, he changes his tune and supports the entrenched monied interests, which he now is.

Some surprise.